Dec 22 2017

Rupee opens unchanged after a steady U.S economic growth

Financial Market Overview

22nd December, 2017

Morning Coffee:-                                                                                  



  • Indian rupee opens unchanged at 64.05 against the dollar tracking mixed Asian cues amid a steady U.S. economic growth ahead of a long weekend. Pair USDINR now at 64.04 against 64.05 previous close.
  • Pair to tip in range between 64.00-64.20 today.

Indian Equities:-

  • Equity benchmarks started off last day of the week on a positive note, with the Nifty reclaiming 10,450 level.
  • The 30-share BSE Sensex was up 73.79 points at 33,830.07 and the 50-share NSE Nifty gained 21.50 points at 10,461.80.
  • About 907 shares advanced against 260 declining shares on the BSE. Aurobindo Pharma, L&T, Vedanta, Eicher Motors, HDFC Bank and UPL were early gainers while BPCL, Bajaj Auto, HCL Technologies, Bharti Infratel, Power Grid and ICICI Bank were losers.

Global Markets:-

  • Asian markets are higher today . The Hang Seng is up 0.26% . The Shanghai Composite is up 0.11% and ASX200 is trading higher  0.19%.
  • The three main U.S. stock indexes rose on Thursday as investors bet on more economically sensitive sectors, pushing bank and energy stocks higher. The Dow Jones Industrial Average rose 55.64 points, or 0.23 percent, to 24,782.29, the S&P 500  gained 5.32 points, or 0.20 percent, to 2,684.57 and the Nasdaq Composite  added 4.40 points, or 0.06 percent, to 6,965.36.
  • European markets finished broadly higher yesterday with shares in London leading the region. The FTSE 100 is up 1.05% while France’s CAC 40 is up 0.62% and Germany’s DAX is up 0.31%.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended little changed, after data released yesterday showed the U.S. economy grew 3.2% in the July-September quarter, its fastest pace in more than two years, from the second quarter’s 3.1% growth rate. However, the print was slightly lower than a preliminary 3.3% rise reported last month.
  • The index had seen little impact after the Congress passed the U.S. tax bill, which includes reduction in corporate taxes to 21% from 35% earlier, in one of the key reforms promised by President Donald Trump in his election campaign.
  • The euro fell 0.2% today, after ending slightly higher yesterday, as election for Spain’s regional Catalonian parliament indicated separatists may regain power, worsening the nation’s political crisis.